Russia Threatens Legal Action If Forced To Default On Its Sovereign Debt
Russia will take legal action if the West tries to force it to go bankrupt over its public debt, Finance Minister Anton Siluanov told the pro-Kremlin newspaper Izvestia on Monday, sharpening Moscow’s tone in its economic battle with the West. Russia is facing its first external bankruptcy in more than a century after settling its international ruble bond last week, even though the payment was in US dollars. On April 4, $ 649 million was due to be paid to the holders of two of its government bonds, but the US Treasury Department blocked the transfer, preventing Russia from using any of its frozen foreign exchange reserves to service its debt....